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Gladstone Park, the auction clearance rate king

Corporate - Home Page
17 June 2021
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Perfect autumn auction clearance score for Gladstone Park

Gladstone Park heads the list of top autumn auction performers with a 100 per cent clearance rate.

During March to May, all 40 properties up for auction in the Hume suburb changed hands, according to new data from the Real Estate Institute of Victoria.

Gladstone Park surpassed other Melbourne suburbs that generated consistently high clearance rates in the record-selling season, including Dingley Village and Eltham (97 per cent), and Ferntree Gully (96 per cent).

REIV results also showed the record for the highest number of auction sales in a month was broken in May, with 4278 sales from 5271 auctions. The figure smashed the record from May 2015, where 3927 properties sold under the hammer.

Barry Plant Gladstone Park achieved a perfect clearance rate with results well beyond sellers’ expectations, according to director Nick Pugliese.

“House and unit values regained all the ground that was lost during the Covid-19 lockdown last year, plus a bit,” he said.

“And with buyer activity higher than they were at the same time last year, it was good news for anyone who sold their property in autumn.”

Located 15km from the CBD, Gladstone Park has plenty to offer all types of buyers, including a diverse range of housing, a shopping centre, parks, sports and medical facilities, and good schools.

There are bus services to neighbouring suburbs with train stations and major shopping centres, and easy access to the Tullamarine Freeway and M80 Ring Road.

“New zoning for primary and secondary schools and its proximity to the CBD and airport are also attractions,” Mr Pugliese said.

“And it is a much more affordable option compared to its pricier neighbours - Airport West, Essendon and Niddrie - and it is a magnet for first-home buyers.”

A first-home buyer snapped up a near new three-bedroom semi-detached townhouse at 74A Clarke Drive, Gladstone Park, for a record $900,000, well above its reserve.

The buyer was one of multiple bidders who battled at the May auction, which was brought forward by more than a week.

“Strong early interest in this property encouraged us to move the auction forward and as a result, the early sale set a spectacular new price record for this type of property in Gladstone Park,” Mr Pugliese said.

“It exceeded the seller’s expectation by 15 per cent in the process.”

Also, some properties changed hands prior to auction as buyers made irresistible offers. A neat three-bedroom house in a popular pocket at 41 Cassandra Drive, Gladstone Park, sold before auction for $680,000.

“The buyers weren’t keen to wait, so they made a compelling early offer,” Mr Pugliese said.

In the same street, at 30 Cassandra Drive, a single-level three-bedroom house, sold for $677,000.

“This was one of the original gems in this area that attracted plenty of attention from young families,” Mr Pugliese said.

Another property that sold pre-auction was at 143 Carrick Drive, Gladstone Park, which was snapped up for $630,000.

“A mix of first-home buyers and investors showed immediate interest in this three-bedroom home in the heart of Gladstone Park,” Mr Pugliese said.

Mr Pugliese noted that owners were making extra efforts to present their homes well for sale.

“They are making sure their properties are well presented to achieve the best price possible,” he said.

Mr Pugliese expected the market to retain its buoyancy in the coming winter months.

“With no signs of a drop-off in buyer activity, it seems that anyone selling in the next month or two is in for an extremely hot winter indeed,” he said.

On the market for $570,000-$595,000, a three-bedroom house with a pool at 6 Dolphin Court, Gladstone Park, is poised to attract first-home buyers, young families and investors.

The property is within a short walk of schools, shops, public transport, a range of recreational and medical facilities, and eateries.

Corporate - Home Page
17 June 2021
Save Article

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